Category
Tech
Automated Upkeep
Trend cluster
Category
Adolescent
Banking
Teaching management, finance apps offer youth insight via digital interaction.
3.1
Trend score
Trend
What is the Adolescent Banking trend?
Adolescent Banking: Going beyond traditional piggy banks, parents are turning to apps and online features to encourage management skills and financial literacy. Using social media and smartphone usage to combine lessons about finance with entertainment, these digitized techniques speak to a desire to introduce responsibility early on.
Trend themes
Themes within the Adolescent Banking trend
Three behaviours holding the trend together01
Digital Money Management for Teens
Parents are turning to apps and online features to encourage management skills and financial literacy in teenagers and preteens.
02
Parental Control of Youth Finances
Mobile platforms are designed to empower young consumers to make their own spending decisions, but within certain parental boundaries.
03
Gamification of Youth Finance
Finance apps are designed to have a game-like experience with the option to add varying degrees of monetary rewards based on certain chores or activities.
Industry implications
What the Adolescent Banking trend means for industry
Where the trend changes the playbookFor
Education
Online platforms and apps can be used to teach financial literacy, money management, and other life skills to children and teens.
For
Banking
The rise of digital banking is fueling the development of child-friendly banking apps, mobile platforms, and prepaid debit cards.
For
Technology
New fintech apps designed for younger audiences are being created to monitor spending, promote financial responsibility, and encourage healthy saving habits.
Trend signals
Trend signals for Adolescent Banking
Trend score 3.1 out of 10, from popularity 54%, activity 32%, freshness 8%.
Popularity54%
Activity32%
Freshness8%
Audience
50%Men
50%Women
- Gen Alpha
- Gen Z
- Millennial
- Gen X (not a primary audience)
- Boomer (not a primary audience)
Market
North America
Europe
Asia-Pacific
Evidence
Examples of the Adolescent Banking trend
4 featured examples from Jul 4, 2014 to Dec 1, 2015CategoryLife-Stages
Child Banking Services
Osper Allows Parents to Empower Children with a Sense of Financial Freedom
Osper's mobile-only banking service for kids presents a disruptive opportunity in the banking industry, particularly for traditional brick-and-mortar banks.
CategoryTech
Parent-Approved Allowance Apps
The iAllowance Personal Finance App is Made for Tweens and Teens
Disruptive innovation opportunity: Innovate within the personal finance industry by creating tools and apps specifically designed for families to manage their finances.
CategoryTech
Parent-Controlled Banking Apps
This New Finance App Facilitates Peer-to-Peer Money Transfers
Banks will need to adapt to changing consumer preferences and expectations for more mobile and peer-to-peer banking in order to remain competitive and relevant.
CategoryTech
Teenager Finance Trackers
BillTracker is a Bill Management App That Puts Everything in One Place
The rise of bill management apps presents a significant opportunity for developers to create innovative solutions for personal finance management.
